Commenting on Nick Clegg’s call for wealthy pensioners to surrender age-related universal benefits, Mark Littlewood, Director General at the Institute of Economic Affairs, said:
“Nick Clegg is right to highlight the unfair nature of universal age-related benefits, but all pensioners should surrender these benefits. Means-testing would be a bureaucratic nightmare and would not make savings for the government.
"The three non-cash benefits to pensioners should be abolished. If the coalition is worried about the poor they should focus on increasing the cash means-tested benefits already in existence. The current system lacks any economic rationale.
“The government has imposed many new burdens on the younger generation, yet older people have remained largely insulated from the cuts. It is time this changed.”
Notes to editors
To arrange an interview with an IEA spokesperson, please contact Stephanie Lis, Communications Officer on 020 7799 8909 or 07766 221 268.
The mission of the Institute of Economic Affairs is to improve understanding of the fundamental institutions of a free society by analysing and expounding the role of markets in solving economic and social problems.
The IEA is a registered educational charity and independent of all political parties.